The Nigma Finance Scam
There are many well-designed websites out there. Websites that are nice to look at, that are a pleasure to navigate and generally informative. The Nigma Finance Forex broker website has at least one of those qualities. Though, the presence of the nice design only serves to hide something a little sinister beneath the surface. You see, when you first get on the page, you might become interested in the broker, simply because of the nice design. They might seem reliable and you might even decide you want to trade with them. You might not even start looking at all of the details about the broker and their licenses. This is the goal they are trying to achieve. They are doing their best to hide the fact that they do not have much information about anything posted on the website.
The design that disguises the Nigma Finance fraud
Those of you who have not spent a lot of time looking at all the different Forex broker pages out there, let us tell you from the get-go. The page for Nigma is nothing but a copy of the many, much more successful, Forex brokers out there. This does not discount the fact that it is a pretty well-made page, without issues in operation and being quite pretty to look at. But it is nothing but a copy, with beautiful yet unrelated images being thrown at you form the screen. It is all great stuff, but it serves to distract you, as is it was intended by the designers. After all, they do not want you realizing that there is not much information about anything on the page. Not only that, they don’t want you noticing the actual evidence of Nigma Finance fraud activities that they engage in. How do we know? Well, it is simple. We look beyond the cover of the book and the homepage of the website. So what are the page and the broker trying to hide from your view? A number of things. In the future, learn to look for what we are about to discuss so that you do not get up in the lies of a broker.
One of the worst things a broker can do is fail to provide information. In the case of Nigma Finance FX brokerage, it has failed to provide any. While it does make some general statements on the subject of its operations, it fails to provide any detailed and important information. So, for example, on the homepage of the website, there is a statement regarding the license of the broker. It is exclusively stated that the company is licensed and regulated, which is why it can operate without an issue. The problem is, the broker fails to expand on this information. They do not talk about the regulatory body nor about the license number. There is no way to find information regarding the nature of the license on the website. Further research online shows that there is no evidence of a license at all. After getting in touch with some regulatory bodies that might have relations with the company, we have come to the conclusion that it does not have any kind of licensing whatsoever. The Nigma Finance scam wants you to miss out on this information. To do so, they offer you a seemingly well-designed website and tell you (lie to you) that there is a license. meaning, they are hiding their corruption behind the guise of a pretty website. While it might seem like a bad strategy, it is one that actually works, which is why we dislike Nigma Finance so much.
Lack of a license is already a sign that you should get as far away from a broker as possible. Though, if you do not have the time or energy to look for a possible license, you don’t need to spend lots of effort looking for other reasons. You see, any company that can be trusted provides detailed information on the subject of their trading, features, prices and so on and so on. Nigma Finance fails to do so. In actuality, traveling to their “Features” page on the website will lead you to a short list of general statements. They will mention API, their great ePayments, and all of the other amazing details about their operations. But they fail to mention anything concrete. They do not mention spreads, minimum deposits, leverage, fees or even a platform that you would be able to trade on. Is Nigma Finance legit after all this? Of course not. Failure to provide such information simply means that there is nothing they can offer you.
Though they do provide some information. In the “Plans” page of the website, you will find a listing of the different kinds of plans and offers they have for their clients. The plans are a little intense: the minimum deposit for the lowest rate plan is ten thousand US dollars. While this might be a normal amount for professional traders and traders who know what they are doing, traders that are just starting out should avoid using this much money as capital for their trading. What worries us is not this. There is a little detail stating that there are monthly returns on becoming part of one of the plans. 40-45% returns for different levels of plans. Does this mean that all the traders have to do is invest and they will start receiving returns? Do they even get to trade? How do the returns come back to the traders if they do not trade? Is it possible that the brokerage makes returns by taking the investments from future investors? If that is the case, then the brokerage is a Ponzi scheme and our Nigma Finance opinion is that you should stay away from it at all costs. Unless, of course, your goal is to lose a lot of money and never see it again.
Beyond the glaring issues we have mentioned above, one of the most important details to consider is the presence of little mistakes. These can be forgiven, usually, if they are not glaring and if there is not that many of them. But when writing this Nigma Finance review we noticed something: the quality of the English language on the website is pretty low and there are many little mistakes on the website. This means that the people who made the website didn’t want to, didn’t bother or didn’t care about checking the grammar and the writing. Is it because they didn’t get paid enough? Maybe. Or maybe its because they know that small typos will not be noticed, as long as the design is good and the visitors end up making a deposit.
One of the most glaring misspells is shown in the picture, where the team showcased is behind the “success of the success” of the company. But what is even stranger in that picture, are the people. You see, all three: the CFO, COO, and the Head Trader hold the same positions at a different company. We discovered this by searching these three people on Google and social media, not finding anything and then reverse image searching the posted pictures. We discovered them on another website! Give it a try yourself, its pretty funny.
Our Nigma Finance rating is extremely low. We consider it a scam and will continue to do so until we are proven wrong. This is why we would like to recommend that all and any traders, beginners or otherwise, avoid this Ponzi scheme of a broker. There are many better brokers out there, with actual features, trading platforms and chances to make money. So, go ahead and get trading with them and don’t even consider Nigma Finance.